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|  | | Sinotrans, CSC reach agreement on merger |
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¡¡¡¡Sinotrans Group, China's largest logistics company, has reached a merger agreement with China Changjiang National Shipping (Group) Corp (CSC Group), the country's largest river shipping company.
¡¡¡¡Changjiang Shipping Group Phoenix Co Ltd and Nanjing Water Transport Industry Co Ltd , units of Wuhan-based CSC Group, disclosed the information in separate statements filed to the Shanghai and Shenzhen bourse.
¡¡¡¡The two central-government controlled groups will jointly submit their merger plans to the State-owned Asset Supervision and Administration Commission (SASAC) soon, according to the statements.Beijing's Sinotrans Group is the largest shareholder of Hong Kong-listed Sinotrans Ltd and Sinotrans Shipping Ltd .
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